for economic cooperation and development has lowered their growth projections for twenty nineteen citing trade tensions as a significant source of downside risk to global investment jobs and living standards the o.e.c.d. s estimate for global g.d.p. growth next year was adjusted down to three point five percent from three point seven percent just two months ago in understood but clear language the o.e.c.d. signaled growth is likely to wane over the next two years finding that quote investment and trade growth have proved softer than it just abated financial market conditions have tightened and confidence has continued to ease boy that's a political statement while growth has been improving in the past. two years particularly in asia the paris space analysis also downgraded forecasts for china for this year and through twenty twenty when the o.e.c.d. now expects flat growth at six percent in china and turning back to the united states the hits from the trade fight keep on coming as grain stocks pile up and are right there rotting for lack of chinese buyers the bottleneck is now reportedly

for economic cooperation and development the o.e.c.d. and italy's own statistics office of downgraded their growth forecasts for the country but italy is too big to fail if the euro zone's third largest economy its debt is already so high no rescue fund could be big enough to save it. borrowing costs projected growth let's try and understand this a little bit more i'm joined now by alessio tared see he's an economist at the brutal institute of brussels based think tank let's you know there's this idea that the markets will punish italy before the e.u. can we actually seeing signs that this is getting painful for rome. yes yes indeed we are already seeing signs going beyond the volatility of one day of financial markets if you look at the past six months the interest rate that they tell your government pays on its bonds has increased substantially several points percentage points and this obviously is very relevant in a country that has a huge debt by like italy so even small fluctuations have a big impact on the economy. you know italy o

for economic cooperation and development the o.e.c.d. and italy's own statistics office have done graded their growth forecasts for the country but italy is too big to fail if the eurozone is third largest economy its debt is already so high no rescue fund could be big enough to save it. borrowing costs projected growth let's try and understand this a little bit more i'm joined now by alessio tared see he's an economist at the brutal institute of brussels based think tank let's you know there's this idea that the markets will punish italy before the e.u. can we actually seeing signs that this is getting painful for rome. yes yes indeed we are already seeing signs going beyond the volatility of one day of financial markets if you look at the past six months the interest rate that they tell your government pays on its bonds has increased substantially several points percentage points and this obviously is very relevant in a country that has a huge debt by like italy so even small fluctuations have a big impact on the economy. you know ital

for economic cooperation and development deal the cd and italy's own statistics office have done great at their growth forecasts for the country but italy is to pick to fail if the eurozone is third largest economy its debt is already so high no rescue fund could be big enough to save it borrowing costs projected growth let's try and understand this a little bit more i'm joined now by alessio tad see he's an economist at the brutal institute of brussels based think tank let's you know there's this idea that the markets will punish italy before the e.u. can we actually seeing signs that this is getting painful for rome. yes yes indeed we are already seeing signs going beyond the volatility of one day of financial markets if you look at the past six months the interest rate that they tell your government pays on its bonds has increased substantially several points percentage points and this obviously is very relevant in a country that has a huge debt by like italy so even small fluctuations have a big impact on the economy. you know italy of course is projecting the budget the budget wil

for economic cooperation and development deal the cd and italy's own statistics office have done great at their growth forecasts for the country but italy is too big to fail it's the eurozone third largest economy its debt is already so high no rescue fund could be big enough to save it. borrowing costs projected growth let's try and understand this a little bit more i'm joined now by alessio tared see he's an economist at the brueghel institute a brussels based think tank let's you know there's this idea that the markets will punish italy before the e.u. can we actually seeing signs that this is getting painful for rome. yes yes indeed we are already seeing signs going beyond the volatility of one day of financial markets if you look at the past six months the interest rate that they tell your government pays on its bonds has increased substantially several points percentage points and this obviously is very relevant in a country that has a huge debt by like italy so even small fluctuations have a big impact on the economy. you know italy of course is projecting the budget the budget

the organization for economic cooperation and development and italy's own statistics office have downgraded their growth forecasts for r the country. it is too big to fail. it is the eurozone's third-largest economy. its debt is already so i know rescue fund could be big enough to save it. stephen: let's try to understand this a little more. i am joined by an economist at a brussels-based think tank. there is this idea that the markets will punish italy before the eu can. are we seeing signs that this is getting painful for rome? alessio: yes, we're seeing signs of the volatility of financial markets for the past six months. the interest rate that the government pays on its bonds has increased substantially, several percentage points. this is obviously a country that has a huge debt pile. even small fluctuations have a big impact. stephen: italy is projecting that the budget will spur growth, but the eu is saying it has yet to see where the growth is coming from. who is right? alessio: the government argues that because it is an expansionary fiscal policy, it is injecting cash, so we should

to the latesting forecast the organization for economic cooperation and development. economics global growth to slow to 3.5% in 2019 and 2020. we can speak to the chief economist. thank you for speaking with us. you were saying the policymakers need to work on a soft landing as growth slows down. is that possible? seeing wevely we are are heading for a soft landing. we are entering an era of slow growth. a soft landing has always been challenging for policymakers, that in the current environment with all the trade tensions is even more so. if we make a couple of policy recommendations, we believe it is possible. get to the negotiation table onn trade. start the discussion collectively. and prepare because as you were just saying it is a risky business we're in. prepare to act in a cooperatatie fashion if a slowdown is sharper than we expect. stephen: we've had the u.s. criticize china over trade again this week. what risk does that posted growth? -- pose to growth? >> the first round of risk is mechanical as tariffs increase. when you look at the u.s. china,dise impor

for economic cooperation and development has lowered their growth projections for twenty nineteen citing trade tensions as a significant source of downside risk to global investment jobs and living standards the o.e.c.d. s estimate for global g.d.p. growth next year was adjusted down to three point five percent from three point seven percent just two months ago in understood but clear language the o.e.c.d. signaled growth is likely to wane over the next two years finding that quote investment and trade growth have proved softer than it just abated financial market conditions have tightened and confidence has continued to ease boy that's a political statement while growth has been improving in the past few years particularly in asia the paris space analysis also downgraded forecast for china for this year and through twenty twenty when the o.e.c.d. now expects flat growth at six percent in china and turning back to the united states the hits from the trade fight keep on coming as grain stocks pile up and rot there rotting for lack of chinese buyers the bottleneck is now reportedly pushing

for economic cooperation and development the report finds the united states has the highest youth unemployment rate and highest in. infant mortality rate among comparable countries the us also has one of the lowest voter registration levels in the o.e.c.d. the report reads quote its citizens live shorter and sicker lives compared to those living in all other ridged democracies are radical tropical diseases are increasingly prevalent and it has the world's highest incarceration conclusions have drawn a harsh response from members of the trumpet ministration us ambassador to the un nikki haley wrote in a letter to senator bernie sanders of vermont quote it is patently ridiculous for the united nations to examine poverty in america the special repertoire wasted the un's time and resources deflecting attention from the world's worst human rights abusers and who can sing instead on the wealthiest and freest country in the world and haley may have a point about the united states being one of the wealthiest countries in the world it just so happens that the vast majority of the nation's wealth is hoa

for economic cooperation and development the o.e.c.d. and italy's own statistics office of downgraded their growth forecasts for the country but italy is too big to fail it's the eurozone third largest economy its debt is already so high no rescue fund could be big enough to save it. borrowing costs projected growth let's try and understand this a little bit more i'm joined now by alessio tad see he's an economist at the brueghel institute a brussels based think tank let's you know there's this idea that the markets will punish italy before the e.u. can we actually seeing signs that this is getting painful for wrong. yes yes indeed we are already seeing signs going beyond the volatility of one day of financial markets if you look at the past six months the interest rate that they tell your government pays on its bonds has increased substantially several points percentage points and this obviously is very relevant in a country that has a huge debt by like italy so even small for fluctuations have a big impact on the economy. you know ital

for economic cooperation and development the report finds the united states has the highest youth unemployment rate and highest in. infant mortality rate among comparable countries the us also has one of the lowest voter registration levels in the o.e.c.d. the report reads quote its citizens live shorter and sicker lives compared to those living in all other ridged democracies are radical tropical diseases are increasingly prevalent and it has the world's highest incarceration rate and the highest obesity levels in the developed world professor alston's conclusions have drawn a harsh response from members of the trumpet ministration us ambassador to the un nikki haley wrote in a letter to senator bernie sanders of vermont quote it is patently ridiculous for the united nations to examine poverty in america the special repertoire wasted the un's time and resources deflecting attention from the world's worst human rights abusers and who can sing instead on the wealthiest and freest country in the world and haley may have a point about the united states being one of the wealthiest countries in the

for economic cooperation and development has lowered their growth projections for twenty nineteen citing trade tensions as a significant source of downside risk to global investment jobs and living standards the o.e.c.d. says estimate for global g.d.p. growth next year was adjusted down to three point five percent from three point seven percent just two months ago and understood by clear language the o.e.c.d. signaled growth is likely to wane over the next two years finding that quote investment and trade growth have proved softer than it just abated financial market conditions have tightened and confidence has continued to ease boy that's a political statement while growth has been improving in the past few years particularly in asia the paris space analysis also downgraded forecast for china for this year and through twenty twenty when the o.e. .

for economic cooperation and development has lowered their growth projections for twenty nineteen citing trade tensions as a significant source of downside risk to global investment jobs and living standards the o.e.c.d. says estimate for global g.d.p. growth next year was adjusted down to three point five percent from three point seven percent just two months ago and understood by clear language the o.e.c.d. signaled growth is likely to wane over the next two years finding that quote investment and trade growth have proved softer than it just a baited financial market conditions have tightened and confidence has continued to ease boy that's a political statement while growth has been improving in the past two years particularly in asia the paris based analysis also downgraded forecast for china for this year and through twenty twenty when the o.e.c.d. now expects flat growth at six percent in china and turning back to the united states the hits from the trade fight keep on coming as grain stocks pile up and rot there rotting for lack of chinese buyers the bottleneck is now reportedly pu

the organization for economic cooperation and development, that's the oecd, i like to drop that a lot, warns that trade tariffs and higher interest rates could slow economic growth. now, despite that ominous forecast, the solid 70% of americans said they are shopping today, i have even confessed that to my friend jolene kent who is in glendale, arizona, for us. she has her finger on the pulse of how people are feeling and what they're buying. >> yeah, ali, it's been interesting. i know you bought a belt and you made your contribution, but here folks are buying a lot more than just a belt for $20.99. people are forking out money by the hundreds. what they're really seeing here is a more enjoyable shopping experience and here's why. anecdotally experts across the country and here at glendale galleria says it feels quieter than usual but the spending is up because so much in terms of discounts. so, you're seeing that both here at the mall in person and brick and mortar stores and then also seeing it, of course, online. some of those black friday online sales that have been stretched over

according to the organization for economic cooperation and development, oceans contributed 1 point -- $1.5 trillion to the global economy in 2010. but climate change is putting this all at risk. i've spoken frequently here on the floor about the threat climate change poses to our oceans and of the warning signals blaring around the world. one of the most overlooked of those signals is the enormous amount of heat accumulating in the oceans. as cbs news reported last week, recent revelations have been particularly alarming and deserving of a big neon sign on broadway. my humble floor speeches may not be a big neon sign on broadway, but i do hope they shine a little light on the plight of our oceans. which ultimately is our human plight. we know that more than 90% of the excess heat trapped by our greenhouse gas emissions has been absorbed by the oceans. no dispute. not even by the trump administration. the federal government's 2017 climate science special report, a multiagency report by experts from noaa and nasa and the department of energy labeled as the united states most definitive

here's the outlook the organization for economic development and cooperation downgrades 2019 growth that includes downgrades for the u.s., europe and japan and china as well. go on to the next chart here, taking a look here now, that's what i'm looking for thanks, guys 2.2 is the u.s. forecast, 4.2 for q2 and 2.4 is the forecast for 2019 >>> moving on here for the next -- while the u.s. is unchanged, several wall street forecasters have brought down their outlooks fiscal monetary and trade policies will become either less supportive or more restrictive we see the fed needing to exert modest restraint on growth hiking four times to 3.25 to 3.5 by year end. the forecast sees the u.s. growing back down to trend to 2% buffeted by tariffs and interest rates. >> i'm glad you brought in that durable goods number this morning, steve based on some of the data that we have seen in recent days, reports like the ones you just cite and the fact that in the last woke the market has reversed the probabilities in terms of whether the fed hikes in december, how should we think about that >> i would think